<p>Hello, I'm in a really terrible situation. I live in NJ and I just finished up two years at a county college and have 65 credits and an associates degree in liberal arts. I planned on transfering to Ramapo College in this fall to pursue a business management bachlors degree. However, when it came time to take out a loan, I cant do it. My parents and I applied to many loans but it turns out their credit score isnt good enough. I just got a credit card in january and I dont have enough credit myself to take out a loan on my own. I have no family that can do it and no friends. I didnt get anything for FAFSA but only a stupid $3250 stafford loan. I need to let them know in a couple days...is there anything I can do or am I screwed and need to sit out a year? I'm like so upset.</p>
<p>Sit out the year. Politically the situation with student loans is going to heat up. And their might be more impetus to increasing grant amounts and direct federal loans.
Essentially what the big SL companies are doing is withholding credit as a political ploy. Plus some of them have managed their affairs so poorly that they could be the next Bear Stearns...
Don't add any more credits, and see if there is some supplemental work you can find related to business.</p>
<p>How much are you short, once you subtract out the stafford loan? Can you work at a part time job to make up the difference?</p>
<p>I'm short about 16K...like how could there seriously be nothing out there for me? : (</p>
<p>Have you been able to save anything from your summer job? If you don't qualify for work-study, try to find work on campus, much more flexible in hours than off campus.</p>
<p>Since you will be transferring in as a junior, you will be able to borrow $5,500 from Stafford- additionally if your parents are denied a Plus loan, juniors are eligible to extend their Stafford loan $5,000.</p>
<p>So that takes care of tuition. For room and board you may have to work a little harder, living off campus with roommates, can be quite a bit cheaper than living on campus with room and board. Check school blogs and newspapers to find roommates before fall.</p>
<p>Ramapo does have some merit awards and outside scholarships, check again with the aid office.</p>
<p>How do you get more from Stafford loans? I only got about $3250, and that leaves me with still $8000 somethin for the fall semester alone. How do I max out Stafford Loans and then double the max? Is it me or is all the government loans a joke? My family is middle class and we're considered in good shape finanacially by my dads income but we've struggled lately asnd their credit has definitely taken a hit and it seems like all hope of going to school is lost. The whole credit thing is definitely stupid.</p>
<p>I cant make up the difference in my summer job as I dont have enough in my account. What else can I do? I hate how I have to be penalized with all of this.</p>
<p>Go to scholarship sites like fastweb.com and find some scholarships. Even if you're academics aren't that good, there will be plenty of scholarships you qualify for. Some might be small (like $300 or $400), but it helps.</p>
<p>Can you commute to Ramapo? </p>
<p>Here is the chart of Stafford Loans. I don't understand why you were offered 3250? Was that the amount that was offered as a subsidized loan? Perhaps you may borrow more unsubsidized? Otherwise, what they are offering does not make sense to me.</p>
<p>Ramapo is about a solikd 1hr and 45 min away..it would be a horrible commute..tomorrow is like doomsday, find somethin or I'm done I guess.</p>
<p>
[quote]
I need to let them know in a couple days...is there anything I can do or am I screwed and need to sit out a year? I'm like so upset.</p>
<p>I hate how I have to be penalized with all of this</p>
<p>I cant make up the difference in my summer job as I dont have enough in my account</p>
<p>y family is middle class and we're considered in good shape finanacially by my dads income
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</p>
<p>This is not something that is being * done* to you.
Its great that you were able to save money and earn two years of credits at a community college. That will put you ahead of the game to earn your BA, but not having a financial safety and not saving money from your summer job was short sighted.</p>
<p>Community college was a great place to show that you can do well in college, and earn merit aid when you transfer. Did you do everything you needed to do?
Ramapo</a> College of New Jersey || Admissions
If your two years of classes were accepted, you should have been admitted as a junior , what year did you indicate you were when you filed for financial aid? I believe that your parents need to apply for a Plus loan, and when they are denied, you can take that info to extend your Stafford loan.</p>
<p>It looks like the amount of loans you are being given is for a freshmen, or it is portion of loan that is being offered subsidized. Othewise, the amount of loan you mention does not make any sense to me. Why not call Ramapo's financial aid office. Tell them that you are a junior (provided that this the case), and you would like to be offered the max. amount of a loan that juniors can take out, if that is what you need and want to do. Have them explain why you were offered only 3250.</p>
<p>Update, yesterday we talked to the financial aid office and since my parents dont qualify for the PLUS loan, we're getting more from Stafford loans. This semester is going to cost me roughly $6000 with all the loans included and what not. My dad was interviewed for a 2nd job about a month ago and they said they'll let him know in Sept if hes going to get the job. The school says I need to pay by November for the 1st semester so my question is, should I roll the dice and hope my dad gets this 2nd job? Or should I just sit out? Cause theres no way we have $6k at all. I only have $1300+ in the bank but I'm going to need that. Yeah I'm going to get a job but I cant work more than 20-25hrs a week..I just dont know what to do...</p>
<p>How would it work if you began winter term?
I know it isn't optimal- but it isn't uncommon for schools to plan for students to begin in the winter.</p>
<p>I truly empathize with your situation. I would agree with others that have suggested sitting out this semester. Do not be discouraged with having to follow the traditional timeline for a student. Plenty of my friends graduated/are graduating in the summer or even in the winter. I am looking to graduate in December. If you can sit out a semester you can definitely earn more money, working full time perhaps. It will also give you time to build up your credit score as well. Hopefully your parents' situation could improve while you take a semester off. I pray that your dad does get hired!</p>
<p>Ramapo costs about 20,000, right? Are they allowing you to borrow 5500 subsidized and 2,000 unsubsidized and that is it, or are they allowing you to borrow more than that because your parents cannot get a Plus loan?</p>
<p>Is there a NJ public U that you can commute to? Maybe you can commute, and go to school part time so you can work more hours, and take it a bit slower. Trying to go to school full time, + work 25 hours per week might be setting yourself up for withdrawing from some classes, which will be even more costly to you. Only you know the workload that you can handle.</p>
<p>Thanks a lot for the support guys, I really appreciate it. This site is excellent. </p>
<p>Ramapo does cost about about 20k a year. I'm not quite sure on the exact figures but all I know is I have to pay $6000 a semester. I cant exactly commute to any other schools in NJ as I'm not in a great location and I cant really take anymore classes because I'm at the max amount of credits (65) to transfer to Ramapo. Right now, the school thinks I'm going in the fall and I would have to pay it all by November. I dont know how thats going to happen with the classes, homework and working. I'm just not sure what to do, should I just go and hope I can pay off $6000 (and my dad gets that second job) or should I just sit out a semester or year?</p>
<p>Tough though it is I think you should sit out the semester and plan to start next semester. Even if your dad gets the 2nd job $6000 is a lot to come up with in 2-3 months based just on the 2nd job. And if he doesn't get the 2nd job what would you do? You would owe for the semester but might not be allowed to complete it if you cannot pay. Starting next semester would give you and your Dad time to save more so you could be comfortable starting the semester off and knowing you can complete it. Tough choice. Good luck.</p>
<p>Maybe swimcatsmom has the right idea. In the meantime perhaps you can look into a payment plan so that you don't have to pay all at once.</p>
<p>The payment plan would be about $1500 per month, either way - its still alot of money. I cant believe theres not a way ya know, its crazy. I really wish there was something out there!</p>
<p>I think that taking a semester off, but beginning a payment plan a couple of months before next semester might be the way to go.</p>